Important Changes for Zions Direct Accounts
Interactive Brokers Login Information
Beginning October 31, 2024, Zions Direct will be removed from your account as the broker-dealer of record and Interactive Brokers will remain as your account’s broker-dealer. Your current username, password, and authenticator will continue to provide you online access to your account.
Zions Direct representatives are available to assist you with any issues accessing your account. Please ensure you can log in and access your account prior to October 31, 2024. After that date, any issues or questions relating to logging into your account should be directed to Interactive Brokers customer service group via the resources available:
Phone: (877) 442-2757
Website: https://www.interactivebrokers.com/en/support/customer-service.php?p=contact
Interactive Brokers fee schedule is available at the following website address: https://www.interactivebrokers.com/en/pricing/commissions-home.php
Additional fees and expenses related to account features is also found under the Pricing section of the Interactive Brokers website: https://www.interactivebrokers.com/en/pricing/other-fees.php
Interactive Brokers Customer Service
As of October 31, 2024, any customer service requests or issues should be directed to Interactive Brokers customer service group via the resources available:
Phone: (877) 442-2757
Website: https://www.interactivebrokers.com/en/support/customer-service.php?p=contact
Zions Direct representatives will no longer have access to your account information or the ability to service your account.
Transfers
You have the right to opt out of the change of the broker-dealer of record to Interactive Brokers. To do so, you should initiate the transfer with your new broker dealer immediately. Until August 26, you can contact our customer support representatives via phone at (800) 524-8875 or email support@zionsdirect.com.
If your account is with us on October 31, 2024, Zions Direct will be removed as the broker-dealer of record and your account(s) will automatically remain with Interactive Brokers. At that point, your account will be subject to Interactive Brokers’ standard policies and procedures and subject to any fees Interactive Brokers may charge. Please note that if you decide to transfer your account(s), you will need to make arrangements to transfer your account(s) to another broker-dealer of your choice.
Interactive Brokers does not charge for transferring securities out of your account. Additionally, each account is able to facilitate one free cash withdrawal request per calendar month, after the first withdrawal (of any kind), Interactive Brokers will charge the fees listed on their website for each subsequent withdrawal:
Wires $10.00
Checks $4.00
ACH/EFT $1.00
If you opt out of removing Zions Direct as broker-dealer of record but do not arrange to transfer your account(s) to another broker-dealer, your account(s) will remain with Interactive Brokers and Zions Direct will no longer be able to service your account. Access to your account(s) will not change and Interactive Brokers will provide customer services as your new broker-dealer of record.
Monthly Account Statements & Tax Reporting
Your monthly account statements, trade confirmations, and tax documents will continue to be accessible by logging into the Interactive Brokers website.
Changes to your Cash Sweep Feature
All cash currently in the Zions Direct Proprietary Bank Deposit Sweep Program feature at Interactive Brokers will go into your IBKR account. Interactive Brokers accounts may earn cash on positive cash balances or may participate in the FDIC insured bank deposit program. The current rates paid on cash within IB’s accounts is included below along with links for additional information and program details.
Current Zions Bancorporation FDIC Insured Sweep
|
0.25% |
Interactive Broker Cash
|
4.83% |
Interactive Broker FDIC Insured Sweep
|
4.83% |
- Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account. There will be no interest paid on the first USD 10,000 of cash. Please note that interest is earned on positive settled cash balances held in the securities segment of an account but not on cash held in the commodities segment.
Information on Interest on Available Cash Balances: https://www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php - You may set up the IBKR Insured Bank Deposit Sweep Program through the instructions linked below:
Signing up for the Insured Bank Deposit Sweep Program: https://www.interactivebrokers.com/lib/cstools/faq/#/content/77063596
Information on the Insured Bank Deposit Sweep Program: https://www.interactivebrokers.com/en/accounts/sweep-program.php
Privacy
Zions Direct, Interactive Brokers, and Interactive Brokers are committed to protecting your personal information and are compliant with SEC Regulation S-P (Privacy of Consumer Financial Information) in connection with this transition. The privacy policy for Interactive Brokers is enclosed and can be found at https://www.interactivebrokers.com/en/accounts/legalDocuments/privacy.php.
Zions Direct appreciates your business and our goal is to make this transition as easy as possible for you. Please be assured that during this transition, you will continue to have convenient access to your account(s) just as you have in the past. If you have any questions or concerns regarding this transition, please call our Investment Center at 800-524-8875.